EURUSD | Page 23802 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #476,021
  • Jun 29, 2011 11:35am Jun 29, 2011 11:35am
Quoting suthmo
If this bull channel holds up we could be at 4600 by Friday. I said we'd go up to 4444 and back to channel bottom. Complete. I Thought it might fail and was aiming for 4260. Have been placing lots of short orders that stopped out BE. But the bottom support woke me up out of bear mode. Think support level about 4390 to 4410. It could take a few more tests of this support before the big moves/or not. And it could be a wavy ride up from here to 4600 Friday, if this channel plays out accordingly. Have long order in the + Looking at 4480/90 as a possible...
Honestly doubt bulls can hold this steep pa for much longer. Looking to sell it soon, maybe tomorrow. Charts speaks for itself. My view tough...

Attached Image (click to enlarge)
Click to Enlarge Name: eu-h1-29june-2.gif Size: 37 KB
  • #476,022
  • Jun 29, 2011 11:35am Jun 29, 2011 11:35am
Fundamentals show long after Greece avoids defaulting on debt, and still no agreed upon solution for US nullifying its debt.
  • #476,023
  • Jun 29, 2011 11:37am Jun 29, 2011 11:37am
I have the exact same lines.....nice chart..... speculate a 4460 area before a nice pullback


Quoting enterfx
Honestly doubt bulls can hold this steep pa for much longer. Looking to sell it soon, maybe tomorrow. Charts speaks for itself. My view tough...

Attachment
  • #476,024
  • Jun 29, 2011 11:37am Jun 29, 2011 11:37am
How many hours I can't post , anyway very good set up, perfect with a huge down spike inbetween though & good trading also so far . H4 resistance worked last time & H1 in the morning , all ok but how many times it may tank & waste time , this time real target set for daily resistance 1.4696 , levels reaction next 1.4477 , 96 to 1.4535 tl .
Longs closed for now & waiting 1.4404 to reload perhaps again .

fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 6 KB
Click to Enlarge Name: eu3.gif Size: 10 KB
Click to Enlarge Name: eu4.gif Size: 17 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #476,025
  • Jun 29, 2011 11:38am Jun 29, 2011 11:38am
Quoting stimpy
ive never bothered learning about murrey math - do you have a good instruction manual? or is it better as in most cases to plot it (i have a mm indie) and watch it for myself?
Dividing the high/low of the last 32 (64 was the original based on GANN) bars as long as there is a new high or low and diving that range in 1/8. Thats it.

Advantages it avoids having to draw retrace and looking for the valid swings to plot fibs or ret. Useful in wide ranges.

Disadvantage, like all these tools, the key is in how to use them and more importantly in the range (swings) not in the levels (they are just a healthy reference). So 32 or 64 is usually a good swing thats why it looks very powerful sometimes but as you know market doesn't wait for n candles to mark a valid swing and they get destroyed or weak when price has a fresh break and start trending until it consolidates.

In any case, as you said try it for yourself, is the only option to have your own judgment...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #476,026
  • Jun 29, 2011 11:42am Jun 29, 2011 11:42am
First post and must say best advice

Just stopped by to give my usual advice to my favourite bunch of traders, i.e. all you NEWBIES out there who are desperately trying to learn how to trade properly to earn a living of some sorts.

First piece of advice. Don't you EVER allow anyone to put you down, we were all once newbies, and indeed I'm not sure I've encountered a trader who's always right, that's what your stop loss is for i.e. to soften the blow when you take the wrong decision.

Second piece of advice, use your IGNORE button if anyone's degrading you or offending you in any way. The best teachers on this particular thread are the humble guys, i.e. egkid, Tarantula, Kill56, FibbinArchie, Magix, just a few names I remember from this thread in the past.

Now if you do all your personal homework and learning yourself and you're still not clear, then address one of these folk humbly, and you're bound to get a response that won't make you feel like an idiot, which I can assure you, none of you are.

Final piece of advice, if you keep losing money, go back on the demo and keep practising. Trading isn't hard, it's the emotional discipline that is the hardest bit to control i.e. the greed and, at one time for me the fear of being wrong.

Do not, whatever you do, allow anyone to trample on your confidence as the second worst thing you can hold on to, apart from arrogance as a trader, is low self-esteem.

We ALL were once newbies, and we will all learn new things every day, some of these things will be learnt through self-study, some through the market teaching us a lesson, and some through asking mentors on this thread. The one thing, I can assure you though, is nothing is learnt from being bullied into learning, all you get from being bullied is a lesson in how to bully those coming behind you, i.e. the future newbies once you have become an expert.

Trade safe everyone, back to my day job now!

Ibukun
  • #476,027
  • Jun 29, 2011 11:46am Jun 29, 2011 11:46am
Quoting stimpy
ive never bothered learning about murrey math - do you have a good instruction manual? or is it better as in most cases to plot it (i have a mm indie) and watch it for myself?
Hi Stimpy,

there is some stuff to read about Murrey Math.

See this post from me on how I use MM:

http://www.forexfactory.com/showthre...76#post4500676

Here is my MM indi:

http://www.forexfactory.com/showthre...22#post4698022


Here is a pic of it:

http://www.forexfactory.com/showthre...90#post4730290


On my blog at http://singulorum001.blogspot.com I have a link list with further material.

Go only to my blog when you are not offended by seeing few ads by EWI or Dukasopy.

On the left side of my blog are various blog-rolls. Scroll down to the roll which is titled "Educational". Here you will find additional links to Murrey Math.

In Murrey Math go only with the Octave-lines. Forget about "Circle of conflicts" etc. since they do not work in Forex. Only the lines.....
  • #476,028
  • Jun 29, 2011 11:47am Jun 29, 2011 11:47am
Short cable 1.6062 and off to bed @#%! the euro

GL everyone

Edit: yeah that's it http://www.forexfactory.com/attachme...1&d=1309363443
Don't get mad, get even!
  • #476,029
  • Jun 29, 2011 11:47am Jun 29, 2011 11:47am
i have sl @4381...now waiting for dip .....is it happend today or .................................................??????
  • #476,030
  • Jun 29, 2011 11:48am Jun 29, 2011 11:48am
Quoting IbkA

Just stopped by to give my usual advice to my favourite bunch of traders, i.e. all you NEWBIES out there who are desperately trying to learn how to trade properly to earn a living of some sorts.
Nice advice.

I think the above deserves a good look. Do not trade to earn a living if you are still learning how to trade. In other words, don't quit your job. Does your work have a weekend shift? If so try to get switched over if you can. You can keep your job and still have plenty of time to trade during the week.

If you are sick of your job and are bound and determined to do it full time, get a float together first. Put away enough money to cover all your bills and expenses for at least 6 months, preferably a year, so you can trade with peace of mind.

Marry someone who has really good and secure job.



Seriously, if one is married talk it over with the better half first.
  • #476,031
  • Jun 29, 2011 11:49am Jun 29, 2011 11:49am
1,4439 shortttttttttttttttttt!
  • #476,032
  • Jun 29, 2011 11:50am Jun 29, 2011 11:50am
nice one IBKA - thanks for the reminder.
  • #476,033
  • Jun 29, 2011 11:53am Jun 29, 2011 11:53am
LOVE IT!

Quoting infinitus
Try it with Murrey Math. Most of the time the numbers are pritty the same.

Murrey Math on 4h with p=32 gave 4404 as 8/8 level, +1/8 was 4435.

4465 is +2/8 level


Good rejection levels for 4435 are 4374 (7/8 line) and better 4343 (6/8 level)

4329 is daily pivot. So it was nearly kind of obvious, that we would land between 4343 and 4329 on a high volatility day like today.

Nothing magic, nothing mind boggeling, nothing kind of crystal ball. Only Murrey Math.

A pip is only worth it if you know how much you risked to earn it
  • #476,034
  • Jun 29, 2011 11:54am Jun 29, 2011 11:54am
Quoting khizer
Nice point for short entry...

Interesting...

I think possible . . .

Looking forward to short targetting 1.4200 level

hmmm... lets see what might happen.
The market will deceive you. Make your own judgement.
  • #476,035
  • Jun 29, 2011 11:55am Jun 29, 2011 11:55am
Quoting sisse
Dividing the high/low of the last 32 (64 was the original based on GANN) bars as long as there is a new high or low and diving that range in 1/8. Thats it.

Advantages it avoids having to draw retrace and looking for the valid swings to plot fibs or ret. Useful in wide ranges.

Disadvantage, like all these tools, the key is in how to use them and more importantly in the range (swings) not in the levels (they are just a healthy reference). So 32 or 64 is usually a good swing thats why it looks very powerful sometimes but as you know market...

thanks. im trying to use levels as an exit and not an entry.

im going to research gann further from what i have been using lately - try GANN MTF hi/lo activator (ssl) with 240 settings - price keeps bouncing off it. Excellent retrace tool.

reading this board in the past few weeks has cemented my style. just go with the flow - do what the chart/system is telling you, have a big pair and hold that position. Ignore where you think its going. 22nd june was my only tough day. Ive had a very good month manually trading the 1hr.

http://www.forexfactory.com/showthre...16#post4601416 is interesting - however i warp my mind a bit when im looking at levels - i can devise charts that are too good if you know what i mean.
  • #476,036
  • Jun 29, 2011 11:55am Jun 29, 2011 11:55am
Yes on all counts. It does take a lot of time to be able to make a living out of this. You have to have a very hefty cushion, money or otherwise.

I've said it before. This is by far the hardest thing I've done (and still do/not over yet) in my life.

Quoting Astroman
Nice advice.

I think the above deserves a good look. Do not trade to earn a living if you are still learning how to trade. In other words, don't quit your job. Does your work have a weekend shift? If so try to get switched over if you can. You can keep your job and still have plenty of time to trade during the week.

If you are sick of your job and are bound and determined to do it full time, get a float together first. Put away enough money to cover all your bills and expenses for at least 6 months, preferably a year, so you can trade...
  • #476,037
  • Jun 29, 2011 11:56am Jun 29, 2011 11:56am
Attached Image (click to enlarge)
Click to Enlarge Name: 21.jpg Size: 93 KB
  • #476,038
  • Jun 29, 2011 11:59am Jun 29, 2011 11:59am
Try going through Architecture school....then the licensing.....Forex is a very very close second in terms of difficulty......Hence, no ones building shite....so here I am....second year of this deal.....

Last year I did 50K in the first 3 months....lost almost all the forth month....LOL! Been pretty steady this year...trying to average 10-25% a month....but that is super tough!

Quoting attila
Yes on all counts. It does take a lot of time to be able to make a living out of this. You have to have a very hefty cushion, money or otherwise.

I've said it before. This is by far the hardest thing I've done (and still do/not over yet) in my life.
  • #476,039
  • Jun 29, 2011 12:00pm Jun 29, 2011 12:00pm
Quoting Shryne1980
I agree the EUR has reached the 0.886 retracement forming a W pattern. This is an area where some may consider a short.
Yes, am kind of thinking about this. Thou am not sure, but giving the price a chance to make a retest at 1.4300 level... if the support holds strong.. then am thinking of long, and the other way around should it break 1.4300 level
The market will deceive you. Make your own judgement.
  • #476,040
  • Jun 29, 2011 12:00pm Jun 29, 2011 12:00pm
Quoting attila

I've said it before. This is by far the hardest thing I've done (and still do/not over yet) in my life.
I tried it once but I just do not have the mindset it takes to do this full time or as my sole means of income. to all those that can, they have bigger cojones than I do.
414 traders viewing now